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New Law Enables Commercial Exploration and Use of Space Resources

Press Release From: Deep Space Industries
Posted: Wednesday, November 11, 2015

Deep Space Industries (DSI) congratulates the members of the United States Senate for passing legislation that significantly advances the cause of opening space resources to humanity. Title IV of S.1297, also referred to as the U.S. Commercial Space Launch Competitive Act of 2015, promotes the right of U.S. citizens to engage in commercial exploration for, and commercial recovery of, space resources in accordance with international obligations and subject to supervision by the U.S. government.

“We are pleased to see the beginnings of legal clarity in the field of space resource utilization,” said Rick Tumlinson, Chair of Deep Space Industries. “This bill is a historic step forward and demonstrates that Congress can effectively and quickly pass legislation that is important to the country’s economic future. The hard-working legislators and their staff on Capitol Hill are to be commended.”

Title IV will spur an influx of capital into the industry and encourage entities to further develop plans and technologies to extract minerals from the vast numbers of asteroids and other resource-rich bodies in the solar system.

“This is a very thoughtfully worded piece of legislation that is sensitive to the existing Outer Space Treaty, and yet moves the ball far forward in terms of giving companies like DSI the legal certainty we need to invest in capitally intensive missions and equipment” said Daniel Faber, DSI’s CEO.

Establishing a solid legal foundation for the development of space mineral resources is a necessary first step in opening the frontier. This legal framework is essential for serious investment to occur in what may become one of the biggest industries of all time.

“We have the team, the technology and the science,” continued Faber. “This legislation gives us the legal assurance to put it all together into a successful business.”

DSI leaders and other members of the commercial space industry are impressed by the tone of the legislation, and point out that everyone involved, no matter their party, company or interest has been working hard to get this right.

“It is good for the country, and it is good for all mankind,” continued Tumlinson. “We encourage other nations to support similar legislation, enabling the space resource utilization industry to build a robust space economy and a better future for all citizens of the world.”

About Deep Space Industries

Deep Space Industries is an international space resources company, utilizing the most advanced nanosat technologies to realize asteroid mining. To learn more about DSI’s asteroid mining projects, innovative technology, or world-renowned team of experts, please visit: DeepSpaceIndustries.com.

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